Paging Network to Cut 30% of Staff,
Reports Narrower 4th-Quarter Loss

DALLAS -- Paging Network Inc. said it will cut 1,800 jobs, or about 30% of its staff, in a restructuring it hopes will move it toward profitability. The company also posted a fourth-quarter loss.

The changes are expected to produce an annual saving of $45 million to $55 million and are expected to be complete in 15 months. However, the paging company, commonly known as PageNet, set no timeline for reversing its earnings losses.